Attracting Millennials Will Diversify Your Property
Millennials currently make up the largest segment of homebuyers in the market as more and more begin their trek to independence. Attracting millennials to the neighborhood can diversify the area and make it more attractive to potential buyers down the road.
The millennial generation is far different from their predecessors. As the first generation to have Internet their entire lives, millennials rely on digital devices for communication, information, and shopping, even when it comes to buying a home. The secret to attracting millennials is understanding what makes them tick.
Tips for attracting millennials
- Build a website
Not only do millennials not know what it is like to not have information at their fingertips, they believe in thoroughly vetting companies and products before giving them a chance. Homeowners associations should have an established online presence that offers millennials the information they need to consider buying a property there. If a Google search fails to show anything for a local neighborhood, it is highly likely the millennial homebuyer won’t even consider looking at homes in the area. A website should include professional and welcoming photos of homes and community areas as well as highlight the benefits and advantages of the community.
- Focus on the convenience benefits
The Millennial generation is work-focused, socially reliant, and continuously on the go. Because of this, they crave convenience and a way to make their lives easier to manage. HOA’s should highlight convenience in their advertising including closeness to shopping, eating, and nightlife.
- Advertise Eco-friendly missions
One of the biggest changes found in the millennial generation is their desire to do good deeds in the world. They seek out companies that give back or take into consideration others in need, animals, and the environment. HOA’s should highlight animal policies as well as any go-green initiatives that may interest some millennial buyers.
- Make it family-friendly
Not all millennials have a spouse, two kids, and dog, but the time is coming when they might. Many millennials are looking for a property they can grow with. If an HOA doesn’t currently have family-friendly activities like a community playground, now is the time to consider adding these amenities.
- Go social
Having the capability to build relationships digitally is necessary if HOA’s want to diversify their community. Create social media groups or pages for the neighborhood that make it easy to publish announcements and get to know one another.
If you or your association is looking for better community living including making your community inviting to potential millennial home buyers, contact the team at AR Management today for additional information or a proposal.